Metrobank Cashback Visa – MoneySmart Review 2022

Metrobank Cashback Visa

Looking for the best cashback credit card? Well, you’re in the right place as Metrobank Cashback Visa is more than just a plastic card with an EMV chip. Smart spending is made possible with this credit card to earn up to 8% cashback from your purchases.

But before you get excited and start computing how much cashback you will earn every billing cycle, let’s look at the key features, benefits, and other discounts you get when you use it on specific spending categories.

Table of Contents
Metrobank Cashback Visa key features
How does Metrobank Cashback Visa work?
What are the other features of Metrobank Cashback Visa?
Other options to Metrobank Cashback Visa
Final thoughts

Metrobank Cashback Visa key features

Annual Fee
  • Waived annual fee for the first year
  • P3,500 for principal cardholder 
  • P1,750 for supplementary cardholder
Minimum Gross Annual Income
  • P350,000
Monthly Interest Rate 
  • 2.00%
Cash Advance Fee
  • P200
Late Payment Fee
  • P1,000 or unpaid minimum amount due whichever is lower
Overlimit Fee
  • P750 per occurrence
Card Replacement Fee
  • P400
Installment Pre-Termination Fee
  • 5% of the remaining principal balance or P550 whichever is higher
Card Network
  • Visa

How does Metrobank Cashback Visa work?

The Metrobank Cashback Visa offers up to 8% cashback when you use it to pay for your groceries, telco and streaming bills, school and bookstore purchases. If your transactions are not under these spending categories like travel and dining, you still earn 0.20% cashback.

The cashback earnings apply only to Merchant Category Codes or the classification of each merchant that the bank determines based on the nature of the establishment’s business, such as groceries, streaming services, bookstore purchases, and others.

The maximum rebate you can earn per billing cycle is P1,000, including the principal and supplementary cardholders’ accumulated transactions. If you’re going to use the cash advance, balance conversions, and transfers, you won’t be earning any cashback.

If you want to apply for Metrobank Cashback Visa, your minimum gross annual income should be at least P350,000. The annual fee is P3,500, and it’s waived for the first year. Remember that you only earn cashback from this credit card, so don’t expect any rewards or air miles points whenever you use it.

What are the other features of the Metrobank Cashback Visa?

Aside from the cashback earnings you receive, you will also access other features such as Cash2Go, Balance Conversion, Balance Transfer, Bill2Pay, and the 0% Installment Program. For the Cash2Go, you can withdraw funds from your unused funds every billing cycle in case of an emergency.

You can request a balance conversion of your big-ticket items and pay in flexible terms with the monthly add-on rate. If you want to consolidate other credit card balances, you may do so with a Balance Transfer with a lower interest rate. You can use the 0% Installment Program and enjoy payment terms for up to 24 months.

You will receive OTP (one-time pin) on your mobile device to verify transactions and secure your account for your online purchases.

Other options to Metrobank Cashback Visa

Are you happy earning 8% cashback from your purchases? While the earnings are capped at P1,000 every billing cycle, you might want to consider other options that offer the same or much better features and earnings.

Security Bank Complete Cashback Mastercard (5-tiered rebates)

Security Bank Complete Cashback Mastercard offers five-tiered cashback rebates where you earn up to 5% on different spending categories. You make 5% on groceries, 4% on fuel, 3% on utility, 2% on dining, and 1% on shopping.

You earn up to P12,000 of cashback annually, which means for every billing cycle, you earn up to P1,000. Enjoy the shopping promos and discounts at restaurants and retail stores.

HSBC Gold Visa Cashback (5% cashback on dining and 0.50% on other purchases)

HSBC Gold Visa Cashback lets you earn 5% cashback on your dining transactions and 0.50% on other transactions. For motorists refueling at Caltex stations, you make a 6% fuel rebate on your first transaction and a 3% fuel rebate for succeeding ones at participating stations.

You also get to enjoy other features such as online and mobile banking to track your transactions easily. If you apply from now, HSBC offers a welcome gift worth a P2,500 cash rebate, and the annual fee is waived for the first year.

Citi Cashback Card (6% rebate on groceries, 2% on Meralco bills, and 0.20% on other purchases)

Citi Cashback Card lets you earn a 6% rebate on your groceries, 2% on Meralco bills, and 0.20% on other purchases. You can earn rebates up to P15,000 annually, and the cashback you earn doesn’t expire, so that you can use them anytime.

You can use the Citibank mobile app to track and manage your purchases and cashback earnings. The annual fee is P4,500 waived for the first year.

Final Thoughts

If you’re looking for a credit card that rewards your purchases on groceries, telco, and streaming services, school, and bookstore with cashback, then the Metrobank Cashback Visa might be just what you need.

You also get 0.20% cashback for other transactions spent everywhere else, which is competitive compared to other cards offering similar benefits. But there are some downsides too, such as there are no rewards points and air miles.

Metrobank provides a virtual calculator so you can compute an estimate of your cashback earnings every billing cycle. If you want a more flexible cashback credit card, the Security Bank Complete Cashback Mastercard is your best bet because it offers five-tiered cashback rebates. If your spending is geared towards groceries and utilities, the Citi Cashback card is another excellent option.

What do you think of the Metrobank Cashback Visa? Are you happy with its 8% cashback rebate? Let us know in the comments below.